Domain Raises $500M for VC Fund

Xconomy San Diego — 

San Diego’s hometown VC firms, which have been languishing in the doldrums for much of the year, got a breath of fresh air today. Domain Associates, the venture capital firm that helped fund San Diego’s Orexigen, NuVasive, and other life sciences startups, says it has successfully raised $500 million for its eighth VC fund, which will be exclusively devoted to the life sciences industry. Domain, which is based in Princeton, NJ, and maintains a San Diego office, says it will continue to focus on funding early stage companies in the drug and device sectors and intends to invest “a meaningful portion” of Domain Partners VIII to startups specializing in medical diagnostics and instrumentation.

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